China ups its interests in potash projects worldwide

5:42 AM MDT | July 11, 2013 | Francinia Protti-Alvarez

Gensource Potash (Saskatoon, SK) has signed a binding agreement with Chinese investors to develop potash projects around Saskatoon. Canada Potash Corp. (CPC; Saskatoon)—backed by Chinese investors—will, under the terms of the agreement, acquire 51% of Gensource's issued and outstanding shares. Gensource has acquired two potash exploration permits from CPC as part of the deal. The companies have also agreed to collaborate in the creation of future joint ventures, in project finance, and in marketing. Further details of the deal were not disclosed...